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Reliance Capital gains after board approves independent listing of home finance business

Reliance Capital gains after board approves independent listing of home finance business

Sep 14,2016

The announcement was made yesterday, 13 September 2016, when stock market remained closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 46.19 points or 0.16% at 28,307.35.

On BSE, so far 6.75 lakh shares were traded in the counter as against average daily volume of 5.01 lakh shares in the past one quarter. The stock hit a high of Rs 561.50 and a low of Rs 546.65 so far during the day. The stock had hit a 52-week high of Rs 574 on 9 September 2016. The stock had hit a 52-week low of Rs 303.60 on 12 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, rising 21.96% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.06% as against Sensexs 6.45% rise.

The large-cap company has equity capital of Rs 252.63 crore. Face value per share is Rs 10.

Reliance Capital said the independent listing of Reliance Home Finance (RHF) is expected to unlock substantial value for existing shareholders of Reliance Capital. The listing of Reliance Home Finance will also lead to increased management focus and accelerated growth in the home finance business. As per the proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance for every one share held in Reliance Capital.

Reliance Capital will hold a 51% stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book to over Rs 20000 crore in the next 18 months. The proposal is subject to necessary shareholders and other approvals. Reliance Home Finance, a 100% subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, LAP, construction finance and affordable housing loans. The company reported an AUM of Rs 8259 crore ($1.2 billion) during the quarter ended 30 June 2016.

Mr. Anmol A. Ambani, Director, Reliance Capital said Prime Minister, Narendra Modi has set a goal of affordable housing for all by 2022. There is presently an estimated shortage of 10 crore residential units in India. To address the needs of this sector, Reliance Home Finance has charted an aggressive growth plan in this space, and aims to increase its book size to over Rs 50000 crore in the next few years.

On a consolidated basis, Reliance Capitals net profit rose 3% to Rs 207 crore on 48.3% growth in total income to Rs 3663 crore in Q1 June 2016 over Q1 June 2015.

Reliance Capital, a part of the Reliance Group, is one of Indias leading private sector financial services companies.

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Kajal Synthetics & Silk Mills to hold board meeting
Feb 22,2017

Kajal Synthetics & Silk Mills will hold a meeting of the Board of Directors of the Company on 28 February 2017, to consider the authority to Board of Directors to borrow up to Rs. 100 Cr. (Rupees One Hundred Crore only) together the money already borrowed by the Company subject to approval of shareholders of the Company by Special Resolution, & to convene the Extra-ordinary General Meeting for passing the Special Resolution in respect of above

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Board of Brawn Biotech approves incorporation of wholly owned subsidiary
Feb 22,2017

Brawn Biotech announced that the Board of Directors of the Company at its meeting held on 22 February 2017 has accorded approval for incorporation of a 100% subsidiary under the name and style of SBJ.

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Health Ministry undertakes largest ever drug survey in the world for determining the quality of drugs
Feb 22,2017

The Ministry of Health and Family Welfare, Government of India had entrusted the work relating to carrying out a Survey of the extent of Problems of Spurious and Not of Standard Quality Drugs to the National Institute of Biologicals (NIB), Noida. The NIB has since submitted the report to the Government.

The statistical design of the Drug Survey included as many as 224 Drug molecules belonging to 15 different therapeutic categories of the National List of Essential Medicines (NLEM) 2011. As part of this survey, 47,954 drug samples relating to 23 dosage forms were drawn from 654 districts of 36 States and Union Territories from the supply chains including retail outlets, Government sources and from eight airports and sea ports.

A nationwide training in drugs survey methodology was imparted at 28 centres across the country to over 1800 Sample Drawing Officers (SDOs) and representatives of the Civil Society / Pharmacy Council of India (PCI). The role of the Civil Society / Pharmacy Council of India (PCI) representatives was to observe that the drugs samples are drawn in accordance with the sampling methodology and the highest degree of transparency and objectivity is maintained in the process to eliminate any bias.

All the samples were subjected to test / analysis as per pharmacopoeial requirements in the Central and State Drug Testing Laboratories that have been accredited by NABL. Overall, out of the 47,012 samples tested, 13 samples were found to be Spurious and 1,850 samples were found to be Not of Standard Quality (NSQ). As such, the percentage of NSQ Drugs in India has been found to be 3.16% and that of Spurious drugs 0.0245%.

This is the largest ever scientifically designed and professionally executed drug survey undertaken in the world for determining the quality of drugs.

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FPIs turn sellers
Feb 22,2017

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 1951.03 crore into the secondary equity markets yesterday, 21 February 2017, compared with net inflow of Rs 8058.12 crore on 19 February 2017. The net outflow of Rs 1951.03 crore on 21 February 2017 was a result of gross purchases of Rs 7038.02 crore and gross sales of Rs 8989.05 crore. On that day, the Sensex rose 100.01 points or 0.35% to settle at 28,761.59, its highest closing level since 22 September 2016.

There was an outflow of Rs 2.59 crore into the category primary market & others on 21 February 2017, which was a result of gross purchases of Rs 1.59 crore and gross sales of Rs 4.18 crore.

FPIs have bought stocks worth a net Rs 7771.51 crore in February 2017 so far (till 21 February 2017). They sold stocks worth a net Rs 1315.13 crore in January 2017. FPIs have purchased shares worth a net Rs 6456.38 crore from the secondary equity markets in calendar year 2017 so far (till 21 February 2017). They had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There has been a net inflow of Rs 1336.39 crore from FPIs in the category primary market & others in February 2017 so far (till 21 February 2017). There was a net inflow of Rs 138.53 crore from FPIs in the category primary market & others in January 2017. FPIs have purchased shares worth a net Rs 1474.92 crore in the category primary markets & others in calendar year 2017 so far (till 21 February 2017). The net inflow from FPIs in the category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Renaissance Jewellery wins award for largest exporter of Precious Metal Jewellery- Studded 2015-16
Feb 22,2017

Renaissance Jewellery has received the GJEPC Award for largestexporter in the category of Precious Metal Jewellery - Studded for the year 2015-16. It is an award for felicitating the largest exporter for outstanding performance and contribution in the trade category.

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Renaissance Jewellery wins award for largest exporter of Precious Metal Jewellery- Studded 2015-16
Feb 22,2017

Renaissance Jewellery has received the GJEPC Award for largestexporter in the category of Precious Metal Jewellery - Studded for the year 2015-16. It is an award for felicitating the largest exporter for outstanding performance and contribution in the trade category.

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Pooja Entertainment & Films announces change in website
Feb 22,2017

Pooja Entertainment & Films has announced change in website from www.thepoojagroup.com to www.poojaentertainmentandfilms.in.

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Pooja Entertainment & Films announces change in website
Feb 22,2017

Pooja Entertainment & Films has announced change in website from www.thepoojagroup.com to www.poojaentertainmentandfilms.in.

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Cosmo Ferrites commences production at its LED project in Noida
Feb 22,2017

Cosmo Ferrites has successfully commenced the production of LED lamps and lighting effects completed phase I of the LED project from 22 February 2017 at its manufacturing unit located at Noida, Uttar Pradesh.

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Cosmo Ferrites commences production at its LED project in Noida
Feb 22,2017

Cosmo Ferrites has successfully commenced the production of LED lamps and lighting effects completed phase I of the LED project from 22 February 2017 at its manufacturing unit located at Noida, Uttar Pradesh.

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Rodium Realty raises Rs 36 crore to support Mumbai project, Xpoint
Feb 22,2017

Rodium Realty has raised Rs 36 crore in the form of structured debt from Capri Global Capital, a Mumbai based NBFC, to support the projects construction.

The investment is for a premium mixed-use redevelopment project, Xpoint, located in Kandivali West, Mumbai. The project consists of retail shops and premium 2-3 BHK residences. The funds will be used to accelerate construction and speed up the delivery timeline.

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Rodium Realty raises Rs 36 crore to support Mumbai project, Xpoint
Feb 22,2017

Rodium Realty has raised Rs 36 crore in the form of structured debt from Capri Global Capital, a Mumbai based NBFC, to support the projects construction.

The investment is for a premium mixed-use redevelopment project, Xpoint, located in Kandivali West, Mumbai. The project consists of retail shops and premium 2-3 BHK residences. The funds will be used to accelerate construction and speed up the delivery timeline.

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Solar Industries India issues commercial paper aggregating Rs 20 crore
Feb 22,2017

Solar Industries India announced that in terms of the guidelines issued by Reserve Bank of India, the Company has issued commercial paper for an aggregate amount of Rs. 20 crore on 22 February 2017 in favour of HDFC Bank, having maturity date 24 April 2017.

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Solar Industries India issues commercial paper aggregating Rs 20 crore
Feb 22,2017

Solar Industries India announced that in terms of the guidelines issued by Reserve Bank of India, the Company has issued commercial paper for an aggregate amount of Rs. 20 crore on 22 February 2017 in favour of HDFC Bank, having maturity date 24 April 2017.

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GAIL (India) fixes record date for bonus issue
Feb 22,2017

GAIL (India) announced that for the purpose of allotment of bonus shares RECORD DATE will be 11 March 2017, if issuance of bonus shares is approved by the shareholders through postal ballot process and results of Postal Ballot will be announced on 06 March 2017.

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